Chennai police book managing director and branch manager after unauthorised closure of fixed deposits
A 77-year-old NRI cardiologist, Dr Vijay Janakiraman, and his 70-year-old wife Malliga, residents of Ashburn, Virginia, lost Rs 4.36 crore due to the unauthorised premature closure of their fixed deposits at IndusInd Bank’s Anna Nagar branch in Chennai. The couple had significant deposits at the branch, and Dr Janakiraman is known for his Rs 6 crore donation to establish the Tamil Chair at Harvard University, reported timesofindia.indiatimes.com.
Complaint alleges forged documents and lack of communication before transactions.
According to the complaint filed by their power of attorney, M Ravi, neither the couple nor he received any prior notification via SMS or email about the closure of the FDs. Ravi alleged that bank staff may have forged documents to transfer the funds to unknown accounts. Repeated complaints to the bank and the Reserve Bank of India reportedly went unanswered.
Police register case under multiple IPC sections; investigation ongoing
Inspector N Minorsamy of the Bank Fraud Investigation Wing, Alpha-1, CCB, registered a case under Sections 409 (criminal breach of trust), 467 (forgery), 468 (forgery for cheating), 471 (using forged documents as genuine), and 420 (cheating) of the Indian Penal Code.
The case names the IndusInd Bank managing director and the Anna Nagar branch manager as accused. The investigation into the alleged organised fraud is ongoing.
